In my Moneycontrol column today I look at the OECD/G20 initiative on Base Erosion and Profit Shifting (BEPS) which India joined along with 129 other countries. moneycontrol.com/news/opinion/g…
While its broad goal is the same as that of the G7 agreement announced earlier -- to prevent global corporations from using low tax destinations to pay little taxes -- there are many details that need to be aligned
Getting so many countries with very different interests to agree on a common tax agreement is a bit task even if they all agree on the broad principle
Which is why I expect the fine print and detailing to take time. And carve outs and exceptions demanded by different countries to leave enough loopholes for big global corporations to exploit
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Just to put it in perspective, the NIA had not gathered enough evidence to actually prosecute Stan Swamy but kept him in jail till he died. But the Ansal brothers of the Uphaar Cinema fire tragedy were convicted by SC but allowed to stay out of jail because of age (75 and 67)
I am all for punishing anyone the police have actual proof against. But prosecution should start early and cases should be heard and disposed off. Keeping people in jail as under trials indefinitely makes no sense...
Surely in the seven months he was in jail - I am not counting the time when he started being treated in a hospital for Covid -- was enough time for the police to build a water tight case against him.. or stop objecting to his bail applications if they didn't have proof
1/n In my column in Business Standard today, I look at the quality control and testing of vaccines, which are still a weak link in our vaccination efforts business-standard.com/article/opinio…
2/n Quality control and testing rarely gets much media attention in India except when some big generic drug maker's production facilities get pulled up by the US FDA -- but it is crucial in ensuring that the quality of the drugs and vaccines we take are good
3/n In April, the US FDA realised to its horror that Emergent BioSolutons, the Baltimore-based contract manufacturer of vaccines that was going to produce a lot of J&J and AstraZeneca vacciness had managed to contaminate entire batches..
1/n The four deadly sins plaguing our vaccination effort – a short thread
2/n Why is India’s vaccination drive so sluggish? We have so far administered 63illion or 6.3 crore doses. With our population of 130 plus crore, we would need to vaccinate at least 70% with two doses, six to eight weeks apart.
3/nWe started with some advantages. We are vaccine factory of the world. We had tie ups with multiple global pharma companies and were also developing our own vaccines. We manage on of the most complex and voluminous vaccination programme for children annually
1/n The jobs problem is going to remain with us for a very long time. 1) GDP is not growing as fast as it should 2) New jobs per unit GDP growth has come down over time 3) The number of people joining the job market is growing moneycontrol.com/news/opinion/l…
2/n The issue is that after a rebound in 2021-22, a number of fairly respected economists think that India will be stuck to a 4-6% growth range for quite some years ... this is bad news
3/n This is bad news because as many people have pointed out, we are entering a situation where even a 10% growth will not add enough jobs to satisfy the number of people joining the job market every year